AN ACT relating to bonds for performance and payment.
Amend KRS 45A.190 to raise minimum construction contract amount requiring performance and payment bonds from $40,000 to $100,000; similarly increase amounts triggering evaluation of whether to require a performance bond for goods and services contracts over $100,000 and construction contracts less than $100,000.

HFA (1, S. Brinkman) - Delete all language in the bill and insert the following provision: require the staff of the Legislative Research Commission (LRC) to study the state of small, emerging, and minority contractors in the state; require the study to include recommendations regarding the bonding requirements of the Commonwealth contained in KRS Chapter 45A; require a report to the LRC no later than December 1, 2008; authorize the LRC to alternatively assign the study to an interim joint committee or subcommittee thereof, and to designate a study completion date.